11.6 billion dirhams in October and the highest in 10 years A jump in Dubai real estate sales “on the map”

Property Finder, a real estate technology company, confirmed that sales of Dubai properties on the map recorded a jump last October, the highest in 10 years, with sales transactions worth 11.6 billion dirhams, an increase of 168% compared to 4.3 billion dirhams in October 2021. .

The figures issued by the company revealed that 8,816 sales transactions were recorded, an increase of 66.6% on an annual basis, compared to 5,291 transactions recorded in the same month last year. In terms of value, there was a noticeable increase in transactions by 97.9%, with a value of 25.8 billion dirhams, compared to 13.05 billion dirhams recorded in October 2021.

In terms of volume, secondary / ready-made properties recorded 4,087 deals, with a significant increase of 27.3% year on year, and the same category witnessed an increase of 63% year on year in terms of value, to reach 14.2 billion dirhams, compared to 8.7 billion dirhams. In October 2021. Residential contracts accounted for 70.35% in October, with a growth of 4.04% on a monthly basis. On the other hand, commercial contracts witnessed an increase of 10%, compared to the previous month, and 8% on an annual basis.

Scott Bond, Director of Property Finder in the UAE, said: “The demand for real estate is expected to witness steady growth, due to the many reforms and initiatives that have been launched. Thus, the UAE ranks at the forefront as a leading center for business and innovation, which qualifies it to achieve record numbers on a monthly basis, as one of the influencing factors that motivate us to be optimistic.